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I am currently looking to remove my name from a mortgage i have with my ex's brother. I handed the property over to him in september last year, and untill March this year things have been running smoothley. However he has failed to make the last 3 payments and now the lender is chasing me, what can i do?

sunshineva · Joined: 15 Jun 2009 Posts: 78 6.76 Dollars($)

Hello,
Your ex's. brother would have to refinance a loan in his name only in order for you to be removed from a mortgage loan.

brian3 · Joined: 09 Jun 2009 Posts: 80 21.31 Dollars($)

Wow alot of people are in this situation, you must make every attempt to have the mortgage refinanced into his name like sunshine said

gmakerley · Posted: Thu Jun 18, 2009 7:46 am Post subject:

inasmuch as the ex's brother hasn't yet taken steps to refinance, it would seem rather apparent that it's not in the cards. in this case, chrislewis, it would behoove you to take the bull by the horns, as it were, and try to assist him in making those payments. after all, it's your credit that's at jeopardy (as well as his), and you remain obligated on that mortgage until such time as it is paid in full. moving out and quit claiming to him are not sufficient to eliminate your obligation.

you obviously need to sit down and have a frank discussion with him (if you haven't already), and make some sort of arrangements to bring the mortgage current, sell the home, etc.

robertsmith2005 · Joined: 22 May 2009 Posts: 338 -0.48 Dollars($)

As long as mortgage is in your name, you are answerable for loan payment. so try your best.

sunil87020 · Joined: 04 May 2009 Posts: 339 26.96 Dollars($)

refinancng will be better option in this .

gmakerley · Posted: Thu Jun 18, 2009 11:38 am Post subject:

well, yes, it would, wouldn't it? too bad it's not likely.

robertsmith2005 · Joined: 22 May 2009 Posts: 338 -0.48 Dollars($)

yes. ask your brother for refinance in his name. actually as a safety measure, you should have done it prior to property tranfer to your brother

eric1 · Posted: Sat Jun 20, 2009 3:39 am Post subject:

Your question was answered here... http://www.mortgagefit.com/problems/removename-refinance.html

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